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What Is a Spousal IRA & How Do I Use It?

For couples looking to save for two retirements when only one spouse is earning income.

By Motley Fool Retirement Team – Updated Nov 1, 2024 at 2:15PM

Key Points

  • A spousal IRA allows one spouse to fund an IRA for the other, even without individual income.
  • To contribute, spouses must file jointly and meet income limits for Roth or contribute to traditional IRAs.
  • Contributing to a spousal IRA can significantly increase a couple's retirement savings potential.
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